An American professional basketball team Sacramento Kings is planning to start paying everyone in its organization in Bitcoin.
The CEO of the NBA franchise Vivek Ranadivé reportedly said he will offer everyone in the organization, including the basketball players an option to be paid their salary in Bitcoin.
“I’m going to announce in the next few days that I’m going to offer everyone in the Kings organization, they can get paid as much of their salary in Bitcoin as they want, including the players,” Ranadivé said.
Ranadivé was said to have made this statement in a Clubhouse session organized by a group called the “Satoshi Roundtable” where Tim Draper, a venture capitalist, was also a part.
The statement went viral on Twitter after Neil Jacobs, a Bitcoin enthusiast who claimed he was also present at the Clubhouse session, quoted Kings CEO and tweeted it.
The current price of bitcoin is $58,814.91, increasing by 1.56% in the last 24 hours. Bitcoin’s current market cap of $1.10T and market volume of $58.89B. In the last 24 hours, bitcoin has dropped to $57,782.04 and experienced a 24 hours high of $59,484.20. Currently, 18,675,068.75 bitcoins are in circulation.
Stats and Image from Coin Desk
Sacramento Kings first showed interest in Bitcoin as far back as 2014 when the franchise accepted Bitcoin as payment for tickets and wares. It even introduced its own token, Kings Token, to reward its fans.
Sacramento Kings’ announcement came following institutional adoption of Bitcoin and crypto by institutions like Tesla, PayPal, and others as a payment option.